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The Trusts Act, 1882

( ACT NO. II OF 1882 )

Chapter IX

OF CERTAIN OBLIGATIONS IN THE NATURE OF TRUSTS

Obligor’s duties, liabilities and disabilities
95. The person holding property in accordance with any of the preceding sections of this Chapter must, so far as may be, perform the same duties, and is subject, so far as may be, to the same liabilities and disabilities, as if he were a trustee of the property for the person for whose benefit he hold it:
 
 
Provided that (a) where he rightfully cultivates the property or employs it in trade or business, he is entitled to reasonable remuneration for his trouble, skill and loss of time in such cultivation or employment; and (b) where he holds the property by virtue of a contract with a person for whose benefit he holds it, or with any one through whom such person claims, he may, without the permission of the Court, buy or become lessee or mortgagee of the property or any part thereof.

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Ministry of Law, Justice and Parliamentary Affairs